Have You Heard Of These Crypto Billionaires?
The crypto world is a very unpredictable one that has greatly evolved since its beginning. Investing in cryptocurrency has always been an unpredictable choice as a result of the structure of the cryptocurrency market. Its volatility, lack of government regulations, uncertainty, and potential to attract both investors and felons to the same space can deter a lot of people from tapping into this space.
Despite these drawbacks, some brave people have taken full advantage of this space to create financial tokens and products that have later amassed millions. Some accurately predicted the lucrative economic potential of these currencies, especially Bitcoin, and took the risk of investing, accumulating, and holding in the early days which has eventually paid off.
- Tyler and Cameron Winklevoss
After winning a lawsuit against social media giant, Facebook, the twin brothers invested the majority of their $65 million compensation into Bitcoin as far back as 2012. In 2017, following the enormous Bitcoin price spike, they officially came to be the first people to earn billionaire status in the crypto space with an approximate net worth of $5 billion individually according to Forbes. The billionaire twins also went ahead and started their own cryptocurrency exchange platform, Gemini.
- Michael Saylor
CEO of popular software company, MicroStrategy Inc., Michael Saylor began strategically purchasing Bitcoin quite recently in mid-2020 during major price declines for both himself and the company. This decision has since paid off as MicroStrategy has recorded a 337% increase in stock price around December 2021. Saylor is believed to have a net worth of nearly $2.3 billion, as stated by Forbes.
- Sam Bankman-Fried
Having an approximate net worth of $8.7 billion, the 29-year-old graduate of prestigious MIT and inventor of trading outfit, Alameda research, and prominent exchange FTX. Sam was lately in the reports for his massive $5 million donation to the presidential campaign of Joe Biden, the current US president.
- Brian Armstrong
Following his resignation from a software engineering career at Airbnb, in 2012 Armstrong went ahead to become a co-inventor of Coinbase, considered to be the largest cryptocurrency exchange in North America. Despite having just gained widespread publicity in April 2021, the revenue of $65.961 billion was reported as of January 3, 2022. This may be due to the credibility and user-friendly attribute of the exchange, which has become popular as a means of attracting investors to crypto. He is approximately worth $9.69 billion according to Bloomberg.
- Chris Larsen
Having a net worth of $3.4 billion, Larsen’s fortune increased by $800 million due to the increase in value of Ripple Labs XRP token. He is the chairman and co-founder of Ripple Labs, possessing over 3 billion XRPs and a 17% share of the company.
Although the crypto world is not for the faint-hearted, we hope to see more billionaires emerge. Who knows, it could be you in the near future.